Student Agencies Properties INC: Nonprofit Profile, Financials & Form 990 (EIN 15-0461430)

Revenue by fiscal year
FY2020	$1.0M
FY2021	$1.5M
FY2022	$2.9M
FY2023	$3.1M
FY2024	$3.5M

Expenses by fiscal year
FY2020	$1.0M
FY2021	$1.5M
FY2022	$2.9M
FY2023	$3.1M
FY2024	$3.5M

Net assets by fiscal year
FY2020	$999
FY2021	$999
FY2022	$999
FY2023	$999
FY2024	$999

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $3.5M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation

Joshua Eisenberg

Chair

$0Pt VII · Sec A

Sharon Dauk

Director

$0Pt VII · Sec A

Dan Karlin

Secretary/Treasurer

$0Pt VII · Sec A

David Lesser

Director

$0Pt VII · Sec A

Alexander Liem

Vice Chair

$0Pt VII · Sec A

Madeline Lieber

Vice President

$0Pt VII · Sec A

Nathaniel Weiss

Director

$0Pt VII · Sec A

Marshall Broadfoot

President

$0Pt VII · Sec A

See Student Agencies Properties INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Student Agencies Properties INC is a nonprofit organization based in Ithaca, NY.

Provided by the organization

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1 program · $3.5M · in their own filed words · FY2024

01

Leasing property as part of the functionally related mission of the related 501(c)3 entity.

$3.5Mprogram expense

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$3.5M

Ln 12

Fees for servicesLn 2g$3.5M

Investment incomeLn 3$4K

Money outPt IX

$3.5M

Ln 25

Programscol B$3.5M

Owns and owesPt X

$999

net assets · Ln 32

Cash and savingsLn 1–2$1.2M

Total assetsLn 16$24.3M

LiabilitiesLn 26$24.3M

PeoplePt VI, VII

8

listed · VII A

PaidVII A0

Voting boardVI 1a8

IndependentVI 1b6

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$3.5M

Investment incomeLn 3$4K

Total revenueLn 12$3.5M

Assets in detailPt X, end of year

CashLn 1$734K

SavingsLn 2$423K

Cash and savings togetherLn 1–2$1.2M

Land, buildings, equipmentLn 10c$22.4M

Other assetsLn 15$189K

Total assetsLn 16$24.3M

LiabilitiesLn 26$24.3M

Net assetsLn 32$999

OperationsPt I, VI

EmployeesI 50

VolunteersI 69

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$382K	$1.2M
Land, buildings, equipmentLn 10c	$23.1M	$22.4M
Total assetsLn 16	$24.2M	$24.3M
LiabilitiesLn 26	$24.2M	$24.3M
Net assetsLn 32	$999	$999

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Management feesLn 11a	$210K
Legal feesLn 11b	$43K
Accounting feesLn 11c	$2K
Other fees for servicesLn 11g	$199
Office expensesLn 13	$774
Conferences, conventions and meetingsLn 19	$599
InterestLn 20	$894K
Depreciation, depletion and amortizationLn 22	$775K
InsuranceLn 23	$39K
Other expenses (24a–d)Ln 24	$1.4M
All other expensesLn 24e	$146K
Total functional expensesLn 25	$3.5M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest Viewing	$3.5M	$3.5M	$0	$999	990 PDF
FY2023	$3.1M	$3.1M	$0	$999	990 PDF
FY2022	$2.9M	$2.9M	−$1	$999	990 PDF
FY2021	$1.5M	$1.5M	$1	$999	990 PDF
FY2020	$1.0M	$1.0M	$2	$999	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2024 990 (6 parts)

Part I · Summary $3,521,865 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $3,121,784$3,517,705

I-10 Investment incomePrior year $10,832$4,160

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $3,132,616$3,521,865

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $3,132,616$3,521,865

I-18 Total expensesPrior year $3,132,616$3,521,865

I-19 Revenue less expensesPrior year $0$0

Part VI · Governance 6 of 8 board members independent, 2 to look at

VI-1a Voting members of the governing body8

VI-1b Independent voting members6

VI-13 Written whistleblower policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $3,521,865 across 3 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,517,705$3,517,705

VIII-3 Investment incomeExcluded from tax $4,160$4,160

VIII-12 Total revenueRelated to mission $3,517,705 · Unrelated business $0 · Excluded from tax $4,160$3,521,865

Part IX · Statement of functional expenses $3,521,865 across 11 lines filed

IX-11a Management fees$210,389

IX-11b Legal fees$42,794

IX-11c Accounting fees$1,700

IX-11g Other fees for services$199

IX-13 Office expenses$774

IX-19 Conferences, conventions and meetings$599

IX-20 Interest$893,750

IX-22 Depreciation, depletion and amortization$775,398

IX-23 Insurance$38,645

IX-24 Other expenses (24a–d)$1,411,547

IX-24e All other expenses$146,070

IX-25 Total functional expenses$3,521,865

Part X · Balance sheet $24,276,364 assets, 13 lines filed

Asset lines not itemized here account for $262,100; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $355,268$734,137

X-2 Savings and temporary cash investmentsStart of year $26,939$423,395

X-4 Accounts receivableStart of year $23,561$118,161

X-9 Prepaid expenses and deferred chargesStart of year $203,104$183,528

X-10c Land, buildings and equipment, netStart of year $23,139,419$22,365,786

X-15 Other assetsStart of year $139,942$189,257

X-16 Total assetsStart of year $24,180,271$24,276,364

X-17 Accounts payable and accrued expensesStart of year $59,522$58,115

X-25 Other liabilitiesStart of year $2,092,738$2,000,738

X-26 Total liabilitiesStart of year $24,179,272$24,275,365

X-27 Net assets without donor restrictionsStart of year $999$999

X-32 Total net assets or fund balancesStart of year $999$999

X-33 Total liabilities and net assetsStart of year $24,180,271$24,276,364

Part XI · Reconciliation of net assets $999 net assets at year end

XI-1 Total revenue$3,521,865

XI-2 Total expenses$3,521,865

XI-3 Revenue less expenses$0

XI-4 Net assets at start of year$999

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$999

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Student Agencies Properties INC

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

By the numbers

Filing history

Schedules filed Part IV